Oil, Gas & Mining
The decrease in oil production levels is prompting the Syrian government to open new blocks for drilling to Arab and other foreign companies.
Syria is engaged in negotiations with French, Chinese and Russian firms for oil projects worth USD 4.4 billion, Abdallah Dardari, Syria’s deputy PM for economic affairs, said during a conference in Manama.
A subsidiary of giant Russian company Gazprom won a tender to build the third part of the Arab Gas Pipeline that will ship gas from Egypt across Jordan to Syria and Turkey.
Stratic and its partner the Kuwait Foreign Petroleum Exploration Company (KUFPEC) finalised the deal they had initialled last April over the development of Block 17.
ExxonMobil has sold its 49% share in ALIMCO, an oil lubricants joint-venture it operated in Syria with local partners, according to AFP. The shares were sold to Syrian businessmen.
Gulfsands Petroleum has signed an agreement to purchase Devon Energy Corporation's 80% interest in the Block 26, in the northeast of the country, through its purchase of all the capital shares of Devon Syria, Ltd for an undisclosed amount.
Conoco Phillips has confirmed that it will be withdrawing from Syria after it transfers the gas treatment plant it is operating in the country at the end of the third quarter of this year.
Syria’s Ministry of Oil is preparing to release tender documents for the development of the Banias refinery following submission of a feasibility study by France’s Beicip Franlab,...
Exactly one year later than planned, Syria will being to supply Lebanon with gas for the first time in June this year following the completion of the gas pipeline linking the two countries.
Russia’s Tatneft has signed a contract with the Ministry of Petroleum and the Syrian Petroleum Company (SPC) to search for oil in Block 27 in the east of the country.
Syria has inaugurated its new 1.2 million tonnes phosphate washing plant. The plant is the first of its kind in the country and will help boost total annual production of phosphate to 3.8 million tonnes.
Devon Energy, the US independent oil company has announced that it was withdrawing from Syria and that it wouldn’t be developing the field it was awarded back in May 2003.
After the withdrawal of Veritas DGC Inc from Syria last November (Read Veritas DGC out of Syria), the Syrian Ministry of Petroleum has re-awarded the contract to conduct seismic surveys of Syria’s waters to Norway’s Inseis Terra.
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